Ledger Co-founder "Bitcoin (BTC) $1 Million Era is the Beginning of Disaster"

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A warning has emerged that Bitcoin (BTC) reaching $1 million could be a warning sign of a global crisis rather than a celebratory moment. It is argued that war, debt crises, and the collapse of the fiat currency system could be the backdrop for a surge in Bitcoin.

According to crypto media outlet BeInCrypto on July 5 (local time), Ledger co-founder Eric Larchevêque stated that a $1 million Bitcoin is not good news. He explained that in a stable world, fewer people need Bitcoin.

Larchevêque emphasized that Bitcoin's role grows during wars, revolutions, and capital controls. He also mentioned the situation where US debt has surpassed $39 trillion. He believes that excessive national debt will ultimately lead to currency failure.

When asked about the era of Bitcoin at $1 million or $10 million, Larchevêque said, “I think it's a world with a lot of suffering.” He explained that while Bitcoin could be a lifeline in Iran, it might feel like an abstract asset to stable savers in France.

Conversely, Matthew Sigel, Head of Research at VanEck, presented reaching $1 million in about five years as a base scenario. Samson Mow, CEO of Jan3, predicted an 'Omega candle' with a surge of over $100,000 in a single day. Michael Saylor and ARK Invest also cite scarcity and institutional demand as reasons for their long-term outlook.

Larchevêque also expressed strong confidence in Bitcoin's long-term value. He holds most of his liquid net worth in Bitcoin. However, he assessed that a $1 million price is more a symptom of the failure of the existing financial system than a reward for success.

[Key Summary of the Article]

-Ledger co-founder Eric Larchevêque warned that Bitcoin at $1 million could signify a global crisis.

-Larchevêque stated that Bitcoin's role increases amid wars, debt crises, and the collapse of the fiat currency system.

-Matthew Sigel and Samson Mow, among others, forecast Bitcoin reaching $1 million, citing scarcity and increased adoption.

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